India, EU to Finalize Landmark Free Trade Agreement on January 27

• India and the European Union are set to conclude negotiations for a Free Trade Agreement (FTA) on January 27, after 18 years of talks.
• The announcement will be made at the India-EU Summit, with Commerce and Industry Minister Piyush Goyal calling it the "mother of all deals."
• The FTA aims to reduce or eliminate import duties on over 90% of traded goods, benefiting labor-intensive sectors like textiles and footwear with zero tariffs from day one.
• Services such as telecom, accounting, transportation, and auditing will also see liberalization, fostering mutual outsourcing between India and Europe.
• This will be India's eighth trade pact since 2014 and its largest yet, involving 27 developed economies, with the EU being India's largest trading partner.

Why It Matters: India and the EU are finalizing a major FTA, set to boost trade and economic ties after 18 years of negotiations.